Message #15 From:
Stock News Bot Date: October 26, 2006 08:29:00 AM
AME News Department of Homeland Security Selects AMETEK to Supply Portable Radiation Detection System
PAOLI, Pa.--(BUSINESS WIRE)--The U.S. Department of Homeland Security (DHS) has awarded a contract to
AMETEK (NYSE:AME) for the design, development and production of a
high-resolution portable radiation detection system. The system will be
used by U.S. Customs and Border Protection, public safety officials and
other first responders to screen vehicles and search public facilities
for potentially harmful nuclear materials.
The contract calls for a base year award of $2.4 million for research
and development. As well, the contract contains option years for both
research and development and production. If all option years are
exercised by the government, the total value of the contract will range
from approximately $5 million to $50 million over a five year period.
“AMETEK is pleased to be selected as the only
high-resolution germanium supplier for this important program. We
believe our system represents the best technology for quickly,
accurately and reliably identifying nuclear material and determining
whether or not it poses a threat,” noted
AMETEK Chairman and Chief Executive Officer Frank S. Hermance.
“Our Detective®
family of high-resolution radiation detection systems represents a
substantial advance in system performance and significantly improves the
ability to detect potentially harmful radioactive material without
interfering with the normal flow of commerce.
“These systems employ a unique class of
high-purity germanium-based gamma ray detectors that offer the best
available combination of resolution and sensitivity for the rapid,
positive identification of nuclear materials. These detectors can
identify nuclear material which can be used in a nuclear weapon, an
improvised nuclear device or a dirty bomb,”
added Mr. Hermance.
This award from DHS follows a number of recent wins for AMETEK’s
radiation detection systems. In recent months, AMETEK has been awarded
contracts totaling more than $12 million by the US Departments of
Defense and Energy and the UK Ministry of Defence. These include
standard handheld Detective radiation identifiers, a backpack version of
the Detective, and a transportable portal system.
Corporate Profile
AMETEK is a leading global manufacturer of electronic instruments and
electromechanical devices with annualized sales of approximately $1.8
billion.AMETEK’s Corporate Growth Plan
is based on Four Key Strategies: Operational Excellence, Strategic
Acquisitions & Alliances, Global & Market Expansion, and New Products.Its objective is double-digit percentage growth in earnings per share
over the business cycle and a superior return on total capital.The
common stock of AMETEK is a component of the S&P MidCap 400 Index and
the Russell 1000 Index.
Forward-looking Information
Statements in this news release that are not historical are considered “forward-looking
statements” and are subject to change based on
various factors and uncertainties that may cause actual results to
differ significantly from expectations. Those factors are contained in
AMETEK’s Securities and Exchange Commission
filings.
